MICHAEL ROWLAND:
Treasurer, good morning. What extra help is on offer?
JOSH FRYDENBERG:
Nice to be with you, Michael. We currently have a small and medium-sized business loan scheme and that has already provided more than 70,000 loans worth more than $6 billion, Michael, but in order to receive that loan, you had to be on JobKeeper in the March quarter. We have removed that requirement, and therefore small and medium-sized businesses will be able to get access for loans of up to $5 million for up to 10 years with the first two years repayment free. This will be a great benefit for small business and we've heard from the Council of Small Business that this will help their members reopen and rebuild. The money can be used for working capital, the money can be used to expand their operations, for example, purchasing machinery and equipment, or refinancing existing loans.
MICHAEL ROWLAND:
Okay now, I want to talk about the vaccine rollout. We do know it is mandatory for aged-care workers to have at least one jab by the middle of September, only two and a half weeks away. The Guardian this morning is reporting based on Government figures, only 19 per cent of aged-care homes across Australia are close to fully vaccinating their staff, or at least giving them one jab. There is no way that target will be met, is there?
JOSH FRYDENBERG:
Obviously, this was agreed again through National Cabinet and the states were required to put in place their own public health orders requiring that, and I think it's important that all states and territories, and of course the Commonwealth, are working together to ensure that goal is achieved. I understand progress is being made, but we want that progress to be even quicker because they are the most vulnerable cohorts. We know that with over-70s, around 85 per cent have currently received the jab. We know with over-50s around 75 per cent have received the jab, and first jabs to the eligible population more broadly is over 50 per cent. So we are making progress with the vaccination rollout...
MICHAEL ROWLAND:
But these aged-care workers were meant to be vaccinated back in April. Back in April. And there’s no way, you are the Treasurer, you know maths. There is a long distance between 19 per cent and 100 per cent in two weeks' time.
JOSH FRYDENBERG:
Well, as I understand it, they have been making progress with respect to that particular rollout. I know only a few states have actually mandated it under their public health orders. I think South Australia is one, I think Western Australia was another. It is important that all the states take that action, as agreed at National Cabinet to do so, and that will be obviously important, not just for the aged-care workers' own health, but of course, the people that they seek to support.
MICHAEL ROWLAND:
West Australian Premier, Mark McGowan, has hit back at the Prime Minister's reference to that kids' movie Croods, and as the Premier says implying in doing so West Australians are like cave people. He said that was an odd thing for the Prime Minister to say. Was it?
JOSH FRYDENBERG:
Well, he was referencing a movie and I think he was making a light hearted point there which is...
MICHAEL ROWLAND:
We all know who he was talking about. People in the states of WA and Queensland?
JOSH FRYDENBERG:
Look, he was making a light-hearted point about what is a serious issue, namely that we need to stick to the plan that was agreed at National Cabinet. Now, that plan, as agreed, is at a 70 and 80 per cent vaccination. We start to see the transmissibility of the virus reduce, the number of people who get serious illness reduce, and therefore we can safely reopen. We've heard from the head of the Doherty Institute themselves saying whether you start at 30 cases or 800 cases, you can reopen safely. And I say to you, Michael, if we don't open up at 70 and 80 per cent, then what is that number? When do our small businesses reopen? When do our kids go back to school? When do we go to the funerals and weddings of loved ones? When do we move more freely across the country? We need to give people hope and the plan based on the best medical advice possible does give us that hope.
MICHAEL ROWLAND:
Okay, you have some persuasion clearly to do with WA and Queensland. Before you go, you have moved into The Lodge with the Prime Minister to ride out the ACT lockdown. How is that working? Do you share the dishes?
JOSH FRYDENBERG:
We have been, actually, and it is just the two of us, Michael, so he has been on the scrubbing brush, I've been using the microwave, we've both been cooking up our bolognese and chicken schnitzel. It has been quite entertaining. He has been good company and of course, we are doing that because we can't live our lives normally with the ACT in lockdown and it has been a good opportunity to talk a lot of shop, as well.
MICHAEL ROWLAND:
When he ducks out, do you secretly measure the drapes?
JOSH FRYDENBERG:
No, I don't.
MICHAEL ROWLAND:
Save time for later!
JOSH FRYDENBERG:
I have to tell you, if only those walls could talk, it has a great history of great prime ministers from both sides of the political divide occupying it, and it has been renovated, I think, very appropriately and I'm really glad it has been maintained because it is such an important part of our national history.
MICHAEL ROWLAND:
Out of time, Treasurer. Thanks for joining us.
JOSH FRYDENBERG:
My pleasure.